Equinox, Orla combine to form $18.5B gold miner

Cecilia Jamasmie | May 13, 2026 | 3:51 am Markets Top Companies Canada Latin America USA Gold

Greenstone gold mine. (Image courtesy of Equinox Gold.)

Equinox Gold (TSX:EQX)(NYSE: EQX) said on Wednesday it would acquire Orla Mining (TSX: OLA)(NYSE: ORLA) in a deal valued at about $18.5 billion, creating a North America-focused gold producer expected to generate 1.1 million ounces annually.

Existing Equinox shareholders will own about 67% of the combined company, while Orla shareholders will hold the remaining 33%, the companies said Wednesday. The merged miner will operate mines in Canada, the US, Mexico and Nicaragua, including Orla’s Musselwhite mine in Ontario and Equinox’s Greenstone and Valentine mines in Ontario and Newfoundland and Labrador. The transaction is expected to close in the third quarter.

“Today is an incredibly exciting day for both Equinox and Orla shareholders as we announce a business combination that creates a senior North American gold producer with increased scale, high-quality long-life assets, and one of the strongest organic growth pipelines in the sector,” Equinox CEO Darren Hall said in a statement. “By combining our operating teams, financial strength, and complementary asset bases, we are creating a differentiated North American gold producer with the scale, growth profile, and asset quality to drive a meaningful re-rate and deliver long-term value for shareholders.”

“Orla was built on a simple idea: Acquire the right assets, develop them with discipline, and operate them well,” Orla CEO Jason Simpson said. “Together, we have the production base, the balance sheet, and the team to compete at a level otherwise unattainable by either company on its own.”

Major output growth

Hall will remain chief executive of the combined company, while Orla CEO Jason Simpson will become president. The companies said the merged entity could increase annual gold production by about 70% to 1.9 million ounces through its development pipeline, positioning it among the larger gold producers focused on stable mining jurisdictions in North America.

The deal continues a wave of consolidation among gold miners seeking scale, lower operating risk and stronger balance sheets as bullion prices remain near record highs.

(More to come…)